NY, FirstAM & WaMu article

[Viking]

"We manufacture very little in this country, we import just about everything."


In the early 80's the US manufactured about 25% of all goods produced in the world. Now we manufacture.........about 25% of all goods produced in the world. The death of US manufacturing is a stubborn myth. The quantity of exports and the dollar value of exports is at record levels and growing. Quality is improving as well. Manufacturing employees in the US tend to earn higher than average wages. We are the world's leading manufacturer and innovator. (Think Boeing, Medtronic, Apple ect.) Lower value parts and products may be made in China(Apple), but the innovative leader is the US. Other developed nations have been losing ground and the developing nations have gained rapidly. In this decade the growth of US manufacturing has averaged about 4% a year compared to about 3.5% for the economy as a whole. This growth will accelerate with the decline of the dollar. The US has the most productive major economy on earth. A dynamic and flexible economy means that there will be a great deal of pain for workers impacted and displaced. The answer to this painfull impact is education and retraining. Productivity is the key, and the US has the broadest range of productive sectors. Japan has displaced the US in productivity in autos, steel, and possibly consumer electronics, but overall is behind because it is way behind in such sectors as other manufacturing, agriculture, construction, wholesaling, retailing, ect. The trade deficit is not a horrible problem for a leading edge economy, but this is starting to improve. Because the US economy is so resilient and diverse, we may somehow weather the current storm? Lets hope so.

 

[Jim Onderisin]

Well positioned appraisers are waiting for that day. It will become known as the Mother of all buying opportunities. (MOABO for Brinker listeners)

The inaccurate appraisals by some of the OCWEN vendors of the past will look like an economics doctoral thesis compared to what will "replace" them.

Snag one, replaces 150 assignments.

Oh happy day... join in.. Oh happy day

Mike: You are a Brinker fan? I've been listening to him since about 1989. His advice has made me a lot of money.

 

[Couch Potato]

"We manufacture very little in this country, we import just about everything."


In the early 80's the US manufactured about 25% of all goods produced in the world. Now we manufacture.........about 25% of all goods produced in the world. The death of US manufacturing is a stubborn myth. The quantity of exports and the dollar value of exports is at record levels and growing. Quality is improving as well. Manufacturing employees in the US tend to earn higher than average wages. We are the world's leading manufacturer and innovator. (Think Boeing, Medtronic, Apple ect.) Lower value parts and products may be made in China, but the innovative leader is the US. Other developed nations have been losing ground and the developing nations have gained rapidly. In this decade the growth of US manufacturing has averaged about 4% a year compared to about 3.5% for the economy as a whole. This growth will accelerate with the decline of the dollar. The US has the most productive major economy on earth. A dynamic and flexible economy means that there will be a great deal of pain for workers impacted and displaced. The answer to this painfull impact is education and retraining. Productivity is the key, and the US has the broadest range of productive sectors. Japan has displaced the US in productivity in autos, steel, and possibly consumer electronics, but overall is behind because it is way behind in such sectors as other manufacturing, agriculture, construction, wholesaling, retailing, ect. The trade deficit is not a horrible problem for a leading edge economy, but this is starting to improve. Because the US economy is so resilient and diverse, we may somehow weather the current storm? Lets hope so.

You better hope the police don't catch you with that stuff you've been smoking.

The most recent reports by the U.S. Bureau of Economic Analysis does not match what your trying to sell as the truth. Just what products do you think Apple makes in the US?

 

[Viking]

"You better hope the police don't catch you with that stuff you've been smoking."



I saw a lot of data there but what the heck do I know about analyzing data?



Great site though. I see that Oct. to Oct. exports were up 13.7% and imports were up 9.2%. If the US consumer is finally short of money and stops spending as much starting in 2008, imports might go down. If the economy goes into recession we may need less imported oil. We've been able to afford lots of imports for a long time and maybe that's OK. If imports go down it could be the result of a not so good economy. In any case I'd rather have a Harley.

 

[Roger Hudson]

I believe some of the AMC's, at the request of their clients (e.g. Bank of America, etc) also weed out appraisers who report declining markets and values that do not meet their expectations.

 

[Pamela Crowley (Florida)]

I believe some of the AMC's, at the request of their clients (e.g. Bank of America, etc) also weed out appraisers who report declining markets and values that do not meet their expectations.

Yes, that is true. I actually have that in writing from one of them.

 

[xmtpedprl]

How can that be? In writing, no less?? I mean, even the lenders can, at least to some degree, confirm the same declining market should it happen to be the case?

Why on God's green Earth would anyone expect an appraiser to say something completely contradictory to the available evidence? What, so they can blackball them one by one in an audit?

I don't get it. Decline is decline, it's a simple statement of a current event, not the end of the world.

Dave...

 

[SmilingDog]

Yes, that is true. I actually have that in writing from one of them.

I'd like a copy of that Pam so I can forward it to my Congressmen. I will also forward it to the OREA and see what they say. This is collusion to commit fraud if the lenders are pressuring appraisers to omit true statements. You can email it to me.

Much obliged.

 

[Oregon Doug]

Yes, that is true. I actually have that in writing from one of them.

Of course you know that if it's a lender in my state, or one that makes loans in my state, I WANT A COPY.

Oregon Doug

 

[Carnivore]

Adept,

I recall reading somewhere, I think it was Fannie Mae, is applying a 5% hit on the LTV of all loans where the appraisal is marked Declining.

For example, 100K Value, 80% LTV = $80,000 loan - declining values SO: less 5% percent to 75% LTV = $75,000 loan....

You see this is another way for them to pressure appraisers overtly!!

Similar to the old Urban/suburban/rural argument.